New York Markets After Hours

Gold futures top $393 an ounce

SAN FRANCISCO (CBS.MW) -- Gold futures rose to a high of $393.20 an ounce in early trading on the New York Mercantile Exchange, the highest intraday price level the market has seen since May of 1996. December gold is currently trading at $392.20 an ounce, up $3.80. Major metals mining indexes
XAU, -1.78%GOX, -0.56%
are up more than 1 percent on the back of gold's strength. The gold market is finding support with investors expecting longer-term commodity prices to move higher and global economies to struggle to grow, said John Person, head financial analyst at Infinity Brokerage Services.

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